The United States Securities and Exchange Commission (SEC) last week announced that it reached a settlement with two of the traders charged last year over their roles in a scheme that involved hacking the organization’s EDGAR electronic filing system.
The SEC revealed in September 2017 that a breach of its EDGAR system detected in 2016 had allowed hackers to obtain non-public information that was used by some traders to make a profit.
In January 2019, the SEC announced charges against nine defendants, including a Ukrainian hacker, two organizations, and six traders in the US, Ukraine and Russia. The agency noted at the time that some of them had also been involved in an operation that targeted newswire services and which generated over $100 million in illegal profits.
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